Friday, April 22, 2011

Sikorsky Wins $3.5 Bln Turkey Helicopter Deal

SOURCE ADMIN Turkey has awarded U.S. firm Sikorsky a contract on Thursday worth $3.5 billion to supply 109 military helicopters, with the possibility of nearly 500 more over 10 years.
Sikorsky, owned by United Technologies, beat a rival bid by Italy’s AgustaWestland, owned by Finmeccanica.
Defence Minister Vecdi Gonul said the decade-long project could eventually become far larger.
“At first stage, 109 helicopters will be supplied, but this can increase up to 600 helicopters during the 10-year term of the project,” Gonul said.
“The project will be worth around $3.5 billion. The schedule of supply will be determined in the coming period,” he added.
He said Turkish aerospace firm TUSAS will produce several parts for the helicopters.
The helicopters, which would be used by Turkish armed forces and police, are part of a drive to modernize the country’s defences.
Shares in Sikorsky’s parent United Technology rose 0.2 percent to $86.11 in early trading in New York.
Last year, Trade Minister Zafer Caglayan said Sikorsky planned to build a helicopter plant in Turkey.